Lafarge Africa posts 5% net sales increase

Lafarge Africa has recorded a five per cent increase in net sales for the 3Q18 period, rising to NGN72bn (US$198.3m) from NGN68.8bn. In the 9M18, net sales again advanced five per cent to NGN234bn. The positive performance in the third quarter was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa, according to the company.

EBITDA for the 3Q18 was up 96 per cent YoY as a result of an improved performance in South Africa, while it fell eight per cent to NGN41.8bn for the first nine months of the year due to the country’s performance in the first and second quarter.

"We continued to deliver strong margins in our Nigerian business as a result of our successful commercial strategies with improved product visibility and the fast tracking of the new route to market. Our energy efficiency plan translated in increased use of alternative fuel and coal," said Michel Puchercos, CEO, Lafarge Africa.

"Our South African operations delivered first positive recurring EBITDA and are focused on executing its turnaround plan," said Mr Puchercos.

Furthermore, the company announced that it had successfully commissioned a new 0.6Mta grinding station in Ghana.